MPC retains interest rate at 14% for 28 months, despite inflation slowdown in Oct.

CBN Governor Godwin Emefiele The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Thursday maintained the Monetary Policy Rate ( MPR) (benchmark interest) at 14 per cent, which it has set since July 2016, despite inflation trending down in October 2018. While briefing pressmen at the end of the two-day MPC held in Abuja, Mr. More...

by Felix OLOYEDE | Published 3 weeks ago
By Felix OLOYEDE On Thursday, November 22nd, 2018
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Senate Assures Commitment to Speedy Amendment of NDIC Act

Chairman of the Committee, Sen. (Dr.) Rafiu Adebayo Ibrahim The Senate Committee on Banking, Insurance and Other Financial Institutions has expressed a strong Commitment for the accelerated amendment of the Nigeria More...

By Felix OLOYEDE On Friday, November 16th, 2018
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Diamond Bank, C&I Leasing, others lead equity market downturn

Nigerian Stock Exchanging in trading session The decline recorded by Diamond Bank, C&I Leasing and 34 other stocks caused the equity market to finish the week ended November 16, 2018 in the red. The Nigerian More...

By Felix OLOYEDE On Wednesday, November 14th, 2018
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Transcorp, Flour Mill, 13 others drag equity market downward

Stockbrokers at the floor of the Nigerian Stock Market The Nigerian equity market reversed Tuesday’s gained, shedding 0.14 per cent, underpinned on losses recorded by Transcorp, Flour Mill, Dangote Sugar and 12 More...

By Felix OLOYEDE On Tuesday, November 13th, 2018
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Osinbajo issues fraud alert on TraderMoni

Vice President Yemi Osinbajo in a market Vice President, Yemi Osinbajo has issued a fraud alert to warn traders against filling any forms to benefit from the TraderMoni Scheme. Osinbajo issued this fraud alert while More...

By Felix OLOYEDE On Monday, November 12th, 2018
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Defunct Skye Bank management, directors under investigation, says NDIC

Nigeria Deposit Insurance Corporation (NDIC) MD/CEO, Umaru Ibrahim exchanges pleasantries with the Chief Judge of the Federal High Court, Hon. Justice Abdul A. Kafarati at the 2018 NDIC Sensitization Seminar for More...

By Felix OLOYEDE On Monday, November 12th, 2018
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Diamond Bank, Access Bank debunk merger report

By FELIX OLOYEDE There is no plan to go into merger as it being reported in some sections of the media, Diamond Bank and Access Bank have said in separate releases. The two banks in their separate releases sent More...

By Felix OLOYEDE On Monday, November 12th, 2018
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Anxiety mounts in banks over CBN stress test

By TESLIM SHITTA-BEY A rough-and-ready stress test conducted by Nigeria’s central bank (CBN) showed that at least three out of 23 deposit taking banks in the country are in dire straits as their capital adequacy More...

By Felix OLOYEDE On Thursday, November 8th, 2018
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AfDB, ICIEC others agree on insurance platform

AfDB President Akinwumi Adesina The African Development Bank (AfDB), Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) , African Trade Insurance Agency (ATI) and GuarantCo, have entered More...